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August 30, 2023
Question

Are property taxes and mortgages deductible

  • August 30, 2023
  • 1 reply
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Are property taxes and mortgage payments deductible for 2023 fiscal year for primary residence?

1 reply

August 30, 2023

Yes. No change from last year. 

Taxpayers are limited to an annual deduction of $10,000 ($5,000 in the case of a married individual filing a separate return) of the following state and local taxes:

  • income taxes, or general sales taxes if elected instead of income taxes;

  • real property taxes; and

  • personal property taxes.